(News Bulletin 247) – Oddo BHF reaffirms its ‘outperformance’ opinion on CRH with a price target raised from 63 to 66 euros, the day after the half-yearly publication of the Irish building materials group, which the research office considers ‘ of good quality’.
If the title CRH fell by more than 2% after this publication, the analyst believes that investors ‘probably fear selling pressure from European shareholders as the US listing approaches on September 25th’.
“In the long term, the main listing project in the country of Uncle Sam should undeniably support the title in the coming months,” tempers Oddo BHF, which also points to a much lower valuation than Martin Marietta and Vulcan Materials.
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